Wednesday, March 02, 2011

Early 2011 Waterfront Activity

Early indicators are pointing to increased activity in the Fairfield Beach area in 2011. 2010 saw 8 waterfront properties change title in Fairfield, for an average sale's price of $1,427,422. 7 of these eight sales closed in the second half of 2010.
There are currently 3 direct waterfront properties under binder in the Fairfield Beach area, including two beachfront properties on Fairfield Beach road, and one other home with direct harbor views on Bayedge Court.

Southport(also part of Fairfield) had two harborfront properties sell in 2010: 211 Harbor road sold for $3,050,000; and 935 Harbor Road sold for $5,900,000.

Westport did not fare quite as well as Fairfield in the area of direct waterfront with only 3 reported sales in 2010,for an average sales price of $2,374,833. This included one riverfront property at 143 Riverside Ave. which sold for $1,100,000, one single family home in an association with shared dock at 11 Burritts Landing North ($1,750,000), and finally a home on Bermuda Lagoon with dock located at 30 Surf Road which sold for $4,274,500 ($4,695,000 asking price). There is currently one waterfront property located at 22 Cross Way (asking $4,350,000) which is under contract. One high end property on Bermuda Lagoon recently came back to the market after bindering.

An Overview from Greenwich to Fairfield shows two waterfront properties in Greenwich that are currently under contract, and none in Darien. Greenwich had only one sale recorded on the CMLS in 2010 located at 21 Willowmere Circle in the Riverside district, which sold for $5,887,500 (listed at $7,450,000). Darien actually fared
better than Greenwich with three high end sales last year: 201 Long Neck Point in Noroton sold for $5,850,000; 8 Contentment Island in Tokeneke sold for $6,350,000; and 20 Beverly Place also in Tokeneke sold for $6,300,000.

At the present time there are two Greenwich waterfront properties under contract and none in Darien.


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